Analysts Expect Allegheny Technologies Incorporated (ATI) to Announce $0.11 Earnings Per Share
Brokerages forecast that Allegheny Technologies Incorporated (NYSE:ATI) will report earnings per share of $0.11 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Allegheny Technologies’ earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.18. Allegheny Technologies reported earnings of ($0.58) per share during the same quarter last year, which would suggest a positive year over year growth rate of 119%. The business is scheduled to report its next earnings results before the market opens on Tuesday, April 25th.
According to Zacks, analysts expect that Allegheny Technologies will report full year earnings of $0.68 per share for the current year, with EPS estimates ranging from $0.45 to $0.89. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.11 per share, with EPS estimates ranging from $1.00 to $1.30. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, January 24th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Allegheny Technologies had a negative return on equity of 6.15% and a negative net margin of 20.45%. The company had revenue of $796 million for the quarter, compared to analyst estimates of $800.11 million. During the same period in the prior year, the company posted ($0.56) EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.
Several equities analysts recently issued reports on the company. Deutsche Bank AG dropped their price target on Allegheny Technologies from $21.50 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, March 21st. Berenberg Bank cut Allegheny Technologies from a “hold” rating to a “sell” rating and set a $16.10 price target on the stock. in a research report on Thursday, February 2nd. Cowen and Company boosted their price target on Allegheny Technologies from $15.00 to $18.00 and gave the company a “market perform” rating in a research report on Monday. Longbow Research assumed coverage on Allegheny Technologies in a research report on Tuesday, March 21st. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Bank of America Corp cut Allegheny Technologies from a “buy” rating to an “underperform” rating and set a $16.00 price target on the stock. in a research report on Friday, January 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Allegheny Technologies presently has an average rating of “Hold” and a consensus price target of $19.59.
Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Allegheny Technologies by 63.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock valued at $115,000 after buying an additional 2,480 shares during the last quarter. LS Investment Advisors LLC boosted its position in Allegheny Technologies by 7.7% in the third quarter. LS Investment Advisors LLC now owns 7,499 shares of the basic materials company’s stock valued at $136,000 after buying an additional 533 shares during the last quarter. Bank of Montreal Can boosted its position in Allegheny Technologies by 14.4% in the first quarter. Bank of Montreal Can now owns 10,142 shares of the basic materials company’s stock valued at $182,000 after buying an additional 1,276 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Allegheny Technologies by 105.8% in the third quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the basic materials company’s stock valued at $199,000 after buying an additional 5,641 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Allegheny Technologies by 14.9% in the fourth quarter. Bessemer Group Inc. now owns 13,165 shares of the basic materials company’s stock valued at $209,000 after buying an additional 1,705 shares during the last quarter. Institutional investors own 97.20% of the company’s stock.
Shares of Allegheny Technologies (NYSE:ATI) traded up 0.146% on Tuesday, reaching $17.135. The company had a trading volume of 1,855,167 shares. The company has a 50 day moving average of $17.68 and a 200-day moving average of $17.69. The company’s market capitalization is $1.86 billion. Allegheny Technologies has a 52 week low of $10.93 and a 52 week high of $23.69.
About Allegheny Technologies
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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